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Capital Account Liberalization and Inequality

This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also find...

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Bibliographic Details
Main Author: Furceri, Davide
Other Authors: Loungani, Prakash
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:IMF Working Papers
Subjects:
Income
Capital Account Liberalization
International Trade Organizations
Short-term Capital Movements
Income Distribution
Personal Income
Value Of Firms
Trade Policy
Current Account Adjustment
Balance Of Payments
Exports And Imports
Aggregate Factor Income Distribution
Capital Account
International Economics
National Accounts
Personal Income, Wealth, And Their Distributions
Macroeconomic Analyses Of Economic Development
Capital And Ownership Structure
Goodwill
Macroeconomics
Income Inequality
Financial Risk And Risk Management
Financing Policy
Luxembourg
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also find that the level of financial development and the occurrence of crises play a key role in shaping the response of inequality to capital account liberalization reforms
Physical Description:26 pages
ISBN:9781513531083

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